Market View 27th Dec, 2024

View on market: Volatility Prevails, Market is searching for better value

On Thursday, U.S. stock markets opened lower as trading resumed after the Christmas holiday. The major indices faced a quiet end to the day, with limited movement following the expiry of the last monthly derivatives contract for the Nifty index in 2024. In India, the Nifty 50 index saw a small increase, while the Sensex closed nearly unchanged. Despite the slight uptick in the Nifty 50, overall market activity remained subdued, reflecting a calm trading session. Investors seemed cautious, with little significant movement in the broader markets. The day marked a low-key return to market action after the holiday break, with attention likely shifting towards the next steps in global and domestic economic developments.

Economic Calendar:

• USD: Goods Trade Balance (Nov) on 27th December 2024.
• IND: Federal Fiscal Deficit (Nov) on 31^st December 2024.
• USD: Price Index (MoM) (Oct) on 31st December 2024.
• IND: HSBC India Manufacturing PMI (Dec) on 2^nd January 2025.

 

IPO Watch:

Brokerage Radar:

MOSL ON HOME FIRST FINANCE:

Reiterate BUY rating with a target price of RS 1,250, Not seeing any spillover of stress from microfinance or short-term personal loans (STPL), and its asset quality remains largely stable, Demand continues to remain strong in the affordable segment.

DAM CAPITAL ON INDUSIND BANK:

Maintain Buy, target price at Rs 1200 (from Rs 1650), Will continue to face profitability pressure in H2FY25, Ongoing challenges seen in MFI lending- due to high provisioning, slowdown in loan growth and pressure on income, ROAs would remain in range of 1% in H2FY25, EPS cuts 18%/14%/13% for FY25E/FY26E/FY27E, NIMs may drop <4% in Q2FY25.

MOSL ON JSW INFRA:

Reiterate BUY rating, target price of Rs 375,  Top pick for 2025, Capacity expansion to aid growth,  Well-positioned to gain higher market share, Reported a 22% cargo volume CAGR over FY18-24 (13% YoY growth in 1HFY25), far outpacing the industry growth rate of ~4% over the same period, Focused on ramping up capacity to 400MMT by 2030.

International Markets:

U.S & Europe:

*As per 27^th December.

Asian markets:

Stocks strong on Chart:

Commodities & Currency:

FIIs & DIIs:

NEWS UPDATES

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